hamburger clearTax
✕
Request a demo

Thank you for your response

Our representative will get in touch with you shortly.

  1. Home
  2. GST
  3. GST News and Announcements
  4. Quarterly Return Filings for All Taxpayers Not Workable: Finance Minister

Quarterly Return Filings for All Taxpayers Not Workable: Finance Minister

Updated on

09 May, 2017 Finance Minister Mr. Arun Jaitley gave a statement saying that quarterly return filings could not be made possible for all taxpayers, as the input tax credit flow will suffer if this is made the norm. As per the GST law, only those taxpayers whose annual turnover is less than INR 50 lakhs can avail of quarterly return filing under the Composition Scheme. However, these taxpayers will not be able to claim any input tax credit. Mr. Jaitley also refuted the claim that the GST law has increased the number of returns needed to be filed. Every taxpayer has to file an initial return on the 10th of every month, and the other two returns will be auto populated. As reported in Economic Times

Simplify Your GST Filing & Invoicing

Get Trained & Try Cleartax GST Software for FREE

Start Free GST Software Trial & Training

File GSTR–1 in 30 seconds

  • 50+ in-built validations to ensure early error correction and 100% accurate returns filing
  • Single-click import of Tally data
File GSTR-1 Now

Popular Articles

You Might Be Interested In

Recent Articles